Anthony Fauci, the US government’s top infectious expert in an interview to Fox News has passed a comment “Although one of the original models projected 100000 to 200,000 deaths, as we’re getting more data and seeing the positive effect of mitigation, those numbers are going to be downgraded,” .
“I don’t know exactly what the numbers are going to be, but right now it looks like it’s going to be less than the original projection.”
These comments have fulled a rally in US markets and all the indices have closed on positive note.
- Dow rallied and closed with a gain of 344 points at 23,000 level. This close is seen for the first time since March 13
- Dow is still down by 17.89% in this year, proving to be worst year after 2008 where it has lost 33.64%.
- Nasdaq Composite has seen closed above 8,000. These levels were last seen on March 10
- Nasdaq is still down by 9.83% in this year, proving to be worst year after 2008 where it has lost 40.54%.
Dow Jones has shown sign of reversal & Gained 26% from its lower level
The indices has hit a low of 18591.93 level on 23 March 2020 and since then it has moved to 23433.57 on Wednesday. It has recovered by 26% from its low. There is a hope that corona virus cases will peak out in near future. As we have seen a comment of “Anthony Fauci” earlier
Comparison of Corona Virus Cases
In order to investigate the extent of change in cases in last two days. We have analysed the data and found that the trend is mix for different countries. No doubt there is some respite in the number of cases and in case the cases start decreasing. Then the stock markets will definitely rally.
|Total cases||New cases||Total deaths||New deaths||Total Recovered|
How to trade this morning?
This morning SGX Nifty is showing a positive start with a gain of more than 100 points. Today go long on Nifty Future with target of 9000 level. Do not trade at opening price. The best strategy is to wait for any dip near 8700 level and there after go long with eye on 9000 level and stop loss at 8650 level.
Texture of the market will get positive if Nifty breaks 9150 level and then we can thing of Nifty touching 9500 level in near future.